Posts Tagged ‘money mindset’

Exploring the World of Financial Technology

LFinancial Technologyast week I had coffee with a friend who is feeling anxious about the size of her emergency fund and hoping for some tips that might help her put away additional money every month. I showed her some of the new apps I’m trying out. It’s amazing how the financial technology world has exploded in just the last couple of years. Not only can apps do some of the most obvious tasks like helping us save. There are also some that help us prioritize debts, make budgets, invest money, and even tip ourselves when we think we deserve it. “I don’t know,” she sighed. “I want it to be easy.” “Look at how simple these apps are, though!” I said.

“I know. It’s just… there’s a ton of them. Who has time to sit on their phone all day flipping through a bunch of apps? Painting is easy. (My friend does beautiful watercolors.) This looks hard.”

I realized she had a point.

Many of the financial conclusions we reach have more to do with our point of view than about the topic at hand. In this case, I’m already pretty immersed in the financial landscape, so all of these tools are like fascinating new toys allowing me to explore something I already love. For her, it was a nightmare. She was worried about the fact there were countless new things she didn’t know how to use. Like a person who’s never seen tools before being introduced to a Home Depot super store, she’s overwhelmed. (more…)

The Formula for Success = You + A Dream + A Decision

I’ve written before that much of financial planning comes down to you. In my time working with people, I’m always sad when they want to talk about all of the reasons they can’t get ahead. They worry about politics, the government in general, rules and regulations, the stock market and more…

Yet there’s also something very exciting to be found at the other end of the spectrum. It’s inspiring engaging with clients who are passionate about life and everything they are “up to” in the world. These are the people who rarely have much to say about the negative external forces.Screen Shot 2016-03-15 at 2.22.30 PM Rather, they focus first on their own actions.

If you really want something, including financial security, there’s a five step process to getting it:

1) Decide. I’m not talking about hoping or wishing. You have to actually decide what’s going to be in your future. Several years ago, I worked with an artist who decided she was going to stop talking about “one day selling her paintings,” and instead, was going to actually do it. In less than 2 months, she sold her first piece.

Making the decision to change your financial status means that you’re going to do something about it. We’ve all felt the difference between hoping and deciding in our own lives. When you first decided to shoot your short film, finish your script or stage your solo show; when you decided it was time to lose weight; when you put down the cigarette and said, “That’s my last one.” You have to decide. Without this step, no magic happens.

The rule = You have to ask for it before you have a chance of receiving it. (more…)

The “I Hate Talking About Money” Problem

One of the most common feelings about money is that there is this “mystery target” out there somewhere… and that as soon as our bank accounts reach that magical number, all of our financial troubles and worries will be over and we won’t have to spend time dealing with our finances anymore.

Here’s the truth…

  1. Everyone – no matter how wealthy – worries about money sometimes; andSpeakSeeHearNoEvil
  2. We will always have to “deal with” our finances.

Financially successful people may not be worrying about credit card debt, building an emergency fund, or struggling to make sure every bill is paid. But more often than not, if you dig deep you’ll discover that they have meticulous systems for monitoring their financial picture. They face any challenges head on, and work to respond to them quickly, to reduce the possibility that a small financial hurdle snowballs into a full fledged money disaster.

Contrast this with the person who’s always disorganized and can’t seem to ever get ahead in their financial life. He or she consistently complains, “I hate it when money comes up…it’s too depressing.” Maybe. But hiding our eyes won’t make our money concerns disappear. (more…)

How to Finish the Year With a Flourish

In the final weeks of December, it’s important to take one last look back at the year. How’s your plan coming? If it’s like mine, there are still some items on the “to do” list that you’ve yet to mark off. We’re down to only a few weeks to finish up our goals for 2015.2015 to 2016

I was listening to a podcast recently with Hal Elrod (of Miracle Morning fame). He was sharing with the host that he sleeps very few hours most nights, but that it doesn’t seem to affect his day. He noticed that on short rest, everything hinged on his attitude. If he woke up and said, “Man, I’m tired. Today’s going to be awful,” the day stunk. If he said, “Alright! I’ve got a huge day today, no more time to sleep!” he became a powerful force in the universe.

I’m certainly not advocating that we give up sleep. More sleep AND a good attitude are probably the optimal one-two punch. However, if you’re in a situation where less sleep is the reality, attitude can change the game.

It’s the same with our money, isn’t it? Our attitude changes everything.

  • If I believe my debt’s killing me, it is.
  • If I think saving money is difficult, it is.
  • If I decide that I’m stuck in a rotten financial place, I am.

As creatives, we know from literature, film, plays, and even poetry, that the hero largely decides her fate. In the beginning of a three-act play, the character faces a problem. By the end of the work, the character has formed a plan, and for better or worse, they’re working through their plan to find a resolution. (more…)

Looking to Clean Up Your Finances?

Looking to Clean Up Your Finances? Copy Successful Health Programs

AppleCoins

A brilliant artist friend of mine recently wanted to lose weight. He picked up Tim Ferriss’ book 4 Hour Body and within a few months lost 20 pounds. He and I discussed how he finally was able to take off weight he’d talked about losing for a long time. His answers enveloped many of the themes I’ve covered when I work with people on effective money management. Let’s get creative today and see what lessons about money we can learn from health and weight loss programs!

It Starts With a Spark

One point he made that grabbed me was when he said, “I just one day decided I had to do things differently. It was like I flipped a switch. I’d had enough.” That’s true for better money habits, too. Every person I’ve met who decided that today was the day to get their financial house in order didn’t “take it slowly.” Sure, maybe they didn’t try to change ALL of their financial habits in a single day, but with one decision—to be different—they began either cleaning up their credit card debt, building savings, tracking their expenses….whatever.

I can usually tell when someone comes to me whether they’re going to be successful or not based on their attitude. If they simply say, “I’d like to change,” they rarely do. However, when someone can point out all of the reasons they NEED to handle money differently, I know they’re in business.

(more…)

Fighting Past “I Can’t Afford It”

How often have you caught yourself saying: “I Can’t Afford It”?  That’s one of the most disempowering phrases we can use in our creative lives. “I can’t afford it” is the financial equivalent of “I don’t deserve it” or “I’m not ready for it.” Of course you deserve it, and of course, you’re ready.

You just have to tell yourself that you are ready, you deserve it, and all you need is a plan.

Now perhaps there truly are some things you may not be able to afford. Like this yacht…

However, more often than not, you could (and should) be breaking down life into two columns:

–       I don’t want it.

Or

–       I am creating a plan to have it.

Let’s explore these two options: (more…)

Kickstarting Success: Overcome Procrastination

There are three types of baseball players: those who make it happen, those who watch it happen, and those who wonder what happens.

-Tommy LaSorda, Hall of Fame baseball manager

Starting. It’s difficult, isn’t it?

Often you can see the path that leads to success in your financial life, your craft, or your career, but you just can’t bring yourself to make the first move.

There are many reasons people don’t start. Most of them are labeled procrastination by people around you. I don’t think that’s fair. There are many, many reasons to wait on your goals, most of them far more involved than simple “procrastination.”

  1. You don’t have all the facts yet.
  2. You have other priorities.
  3. It isn’t the right time of year.
  4. You’ll be fresh tomorrow.
  5. When you get money, it’ll be easier to start.
  6. Once you pay off that old debt, then you can begin again.
  7. The kids are about to go to school/end school/be born.

All of these are reasons to wait. Most of them are even good reasons. No matter, we know for certain one fact: it’s clear that now isn’t a good time to start anything new. But, you still know in the back of your head that if you don’t start now, there’s a chance that you never will. (more…)

Did We Strike a Nerve?

So…wow.

Bryan and I have simply been blown away by the response to last week’s “Living in Possibility” call! Hundreds of you joined us for a conversation about living life powerfully as artists who CHOOSE to create the success you desire (and deserve) in every area of your lives. We suspected there would be a few motivated artists who might dive into the material, but we just weren’t prepared for the number of calls and emails we’ve received, sharing your questions, experiences and victories–we’ve never seen the group this fired up before! It seems we really struck a nerve!

Or are you all even more dynamic than we realized?!

The immediate question is: With all of this momentum and new insight, what are you going to do next to stay in the zone of your potential? How will you apply this work practically day to day? How will you best capitalize on these discoveries and treat yourself to the good to come–right now? (more…)

The BEST Quote Ever!

“Every time a friend succeeds, I die a little.” — Gore Vidal

My acting teacher shared this quote with me, and it quickly became one of my favorites.  I still laugh at it, and I still wish it weren’t so damn true.  Don’t you wish that at this stage of development we were more enlightened, less envious, more accomplishing, less self-sabotaging?  Or that we could openly acknowledge where we are at, be genuinely and fully happy for the success of others, and trust that the universal abundance that exists was ours to share, that the extraordinary life of our dreams was truly within reach… like, right now?

Yeah, us too.

If there’s a disconnect between what you want–what you authentically know to be possible for you creatively and professionally–and the actual results you achieve day in and day out, then I invite you to join me and Miata on our free webcast, LIVING IN POSSIBILITY. It’s a 90-minute call that could shock you, might inspire you, and will almost certainly raise your consciousness and provoke some amazing new actions.

It’s sometimes amusing to me that here at Abundance Bound we’re in the business of teaching artists about finance, when a great deal of what we do has nothing to do with money. In fact, this seminar could easily be called, IT’S NOT ABOUT MONEY.  It’s about our emotional relationships.  It is how we feel about money, or success, or family and friends, or acting or painting or music–or whatever–that defines our world and our level of satisfaction. I don’t care whether you book one acting job or a thousand acting jobs, or paint the Sistine Chapel II, you can’t outrun your subconscious or your deep emotional paradigms. (more…)

The Magic of Thinking Small?

So there’s a crazy blog title right? I’ve always been a champion of thinking BIG! My clients will tell you about the many books, articles and quotes I pass on to them on the topic of never, ever limiting our dreams.

On Saturday I attended a seminar on investing. It was a fabulous day. The instructor shared great information and did it in a way that made sense to someone like me who tends to go a bit cross-eyed when I try to follow the stock market. But early on in the class, he was talking us through a simple investment strategy, and explained a process we could follow to earn $100 over the course of a month. He looked around the room and obviously sensed the energy of the participants (me included) that was essentially – “Yeah, okay…$100…when are you going to get to the real stuff?”

He smiled a bit and then cautioned us to pay attention to our mindset and the ways in which, without even realizing it, many of us are guilty of consistently dismissing money. At that moment, we were all pretty much broadcasting loud and clear to the universe: “I’m not impressed. Don’t bother. Call when you’ve got something good for me.”

And then he said something almost ridiculously simple and incredibly powerful:

“ALL MONEY IS GOOD!”

I’ve been thinking about that statement constantly for the last couple of days. How often do you catch yourself saying things like:

  • “Geez. A residual check for $1.04. It’s not even worth a trip to the bank.”
  • “I can ONLY save $25 a month right now. What’s the point?”
  • “Yes their gas prices are a few cents cheaper, but I’d have to make a U-turn.”

When we consistently blow off opportunities to take the “small” steps to building our wealth – what makes us think we’ll be given bigger opportunities? Spending mindfully, saving consistently, welcoming money of any size into our lives – all of these habits make us long term winners.

It’s funny because the first module of The Artist’s Prosperity Home Study System is Change Your Financial Mindset and How You Talk About Money. And what I say throughout this lesson is that our work in this area is never “done.” It’s not like you can check a box and you’ll never have another negative thought about money. But it’s so important to do the work and to keep coming back to it. Sure, there are other “more glamorous” topics like debt elimination, increasing your income and investing. But it all begins with the foundation of a strong and powerful state of mind about money.

Well this weekend created consciousness for me around an area that I want to really pay attention, and I thought I would take a few moments to also share that with you. It’s wonderful for all of us to continue to strive for everything we desire. We just want to remember to give gratitude and thanks for all the small steps we can take along the way.